Steps for Pag-IBIG Multi-Purpose Loan 2024 Application Process
PAG-IBIG MULTI-PURPOSE LOAN 2024 – Here are the steps on how to apply for the cash loan offer of the Fund for qualified members.
Are you one of those who are interested to apply for the cash loan offer of the Pag-IBIG Fund? The government-ran entity has the Pag-IBIG Multi-Purpose Loan offer, also called the MPL, which is a cash loan offer designed to help meet the short-term financial needs of members.
The Fund is undeniably well-known for the Pag-IBIG Housing Loan offer. Meanwhile, its Multi-Purpose Loan offer has also helped countless Filipinos in addressing their short term financial needs with flexible and low monthly amortizations in the repayment process.
A qualified member may apply for the loan simply for any purpose since it has no definite purpose for application unlike the other loan offers of the Fund. How to apply for the Pag-IBIG Multi-Purpose Loan 2024?
The loanable amount under the Pag-IBIG Multi-Purpose Loan offer may vary among members depending on the total savings of the member-borrower. Meanwhile, the government-ran institution has set a definite percentage basis for the maximum loanable amount under the offer.
The interest rate under the Pag-IBIG Multi-Purpose Loan applies until the loan is fully-paid. The loan is payable within 36 monthly installments or three (3) years. Here are the steps on how to apply for the Pag-IBIG Multi-Purpose Loan offer:
Step 1 — Check the Qualifications
- has posted at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program
- with active membership
- has posted at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
- In case the member has an existing Pag-IBIG Housing Loan, MPL and/or Calamity Loan, the account/s must not be in default
- with proof of income
Step 2 — Prepare the Requirements
Gather the Pag-IBIG Cash Loan requirements for application. Make sure you have all the original copies of the documents required even those that must be submitted in photocopies.
Step 3 — Submit the Requirements
Go to Pag-IBIG Fund and submit all the documents needed for application to the loan offer.